Dec 9 2023
David Henderson
People with Disabilities Individuals with targeted or "severe" disabilities are the most under-represented segment of the Federal workforce. The People with Disabilities Program (PWD) ensures that people with disabilities have equal Federal employment opportunities. The FAA actively recruits, hires, promotes, retains,...
Dec 9 2023
Brendan Cairney
In late August, private equity firm Roark Capital announced plans to purchase fast-food giant Subway. The Federal Trade Commission quickly jumped in, announcing a federal antitrust probe into Roark on the basis of a potential sandwich shop monopoly. Roark Capital already owns Jimmy John’s, Arby’s, McAlister’s...
Dec 9 2023
Scott Sumner
Karl Smith has a new piece in Bloomberg discussing the impact of monetary policy on economy. He argues that the standard model doesn't explain what's been happening to the economy. I partly agree, but only because what is now the "standard model" is not a state of the art model of monetary policy. I've done numerous p...
Dec 8 2023
David Henderson
There has been a lot of discussion of newly elected Argentine president Javier Milei’s proposals for economic reform. Much of that discussion has been on how successfully he will implement his ambitious proposals for freeing Argentina’s highly statist economy. He has proposed getting rid of the central bank...
Dec 7 2023
Kevin Corcoran
I recently completed a multi-post deep dive into the book Conservatism: A Rediscovery by Yoram Hazony. My own views have relatively little alignment with Hazony on many significant issues. Yet, I suspect that may not have come across in the review itself – my review, I believe, cast Hazony’s work in a very positive...
Dec 6 2023
Scott Sumner
There are a whole bunch of puzzles related to changes in the economy after 1973:1. Why did productivity growth slow after 1973?2. Why did growth in real wages slow after 1973?3. Why has labor productivity growth in construction stalled, while labor productivity growth in manufacturing has remained quite robust? Undoub...
Dec 6 2023
John Phelan
In 1846, Richard Cobden’s long campaign bore fruit with Britain’s repeal of the Corn Laws, the tariffs which kept cheaper foreign wheat out of the country. The less well-off benefited most and ‘free trade’ became a touchstone of British politics as the country reached the pinnacle of its power. By the end of...
Read this Arnold Kling Liberty Classic
Apr 2 2018
By Arnold Kling
Understanding the market process as a systematic, error-corrective sequence of profit-inspired entrepreneurial discoveries, continually reshuffled and redirected as a result of the ceaseless impact of exogenous changes, should drastically alter our appreciation of key features of capitalism. —Israel M. Kirzner, Comp...
Dec 6 2023
Pierre Lemieux
Is the damage done by ignorance of basic economics and of (classical) liberal philosophy reparable? Consider Angelina Jolie. She is now in the fashion business, which she wishes to be “sustainable,” ethical, and “circular-design.” (Whatever the latter means, I gather that it has nothing to do with body curves n...
Dec 6 2023
David Henderson
On September 15, 2023, I received an email from Congresswoman Marjorie Taylor Greene. It was addressed to Lenore but I read it anyway. Congresswoman Greene wrote: Lenore, I’m proud to co-sponsor H.R. 3413, the AM Radio for Every Vehicle Act. AM radio keeps Americans informed and safe and is the backbone of ...
Dec 5 2023
Kevin Corcoran
In a recent post, I wrote against the temptation to seek out universal solutions to problems, particularly when the approach in question is, “just look at however they’re doing things over there, and then do the same thing over here.” This was inspired by a commenter who, in reply to one of my posts, suggested ...
Dec 5 2023
Scott Sumner
Donald Trump has promised to pay off the entire national debt within 4 years: “We’re going to pay off debt — the $35 trillion in debt. We’re going to pay it off. We’re going to get it done fast, too.” I am supposed to be an economic commentator. So perhaps I should do my civic duty and evaluate this eco...
Dec 4 2023
David Henderson
I've written before about why I think California is the canary in the coal mine for the success or failure of electric vehicle (EV) mandates. Now, based on an experience I had in Phoenix last Thursday, I think there are multiple canaries. I had rented a car from Avis on-line, to be picked up at the rental car cen...
Dec 3 2023
Pierre Lemieux
It is a strange opinion that profits—or for that matter wages—“drive” inflation, but it does help an economist maintain a spirit of tolerance and see a pedagogical opportunity in every error. A Wall Street Journal reporter is at it again with a story of yesterday titled “Outsize Profits Helped Drive Inflation...
Dec 2 2023
Scott Sumner
The dire warnings about the effects of pot legalization failed to pan out. But that has not stopped drug warriors from arguing that a soft on drugs approach would be disastrous. Consider this recent article in the OC Register: So in 2014, with the best of intentions, voters passed Proposition 47. This reduced a grea...
Dec 2 2023
David Henderson
Yes, really. I gave my keynote speech at the Arizona State University (ASU) conference yesterday morning, and it was only my second favorite talk I attended. Which one beat it out? A panel on mandated parking. All 3 of the speakers made cogent, passionate, fact-filled arguments against parking mandates. The moderato...